Federation of Indian Export Organisations to enter into MoU with eBay and Paypal

MUMBAI: In a bid to encourage exporters to utilise the online platform to push sales, the Federation of Indian Export Organisations (FIEO) will enter into an agreement with e-commerce websites eBay and Paypal.

"FIEO is entering into a memorandum of understanding with eBay and Paypal on April 12. FIEO envisages the MoU to open up international market, especially for the small and medium enterprises in a big way," the apex body of exporters said in a statement here today.

Noting that exports through the online channel had grown 400 per cent to $1.4 billion, it said, "exporters need to increase their sales by adopting channels like e-commerce,which is the order of the day, to reach out to more and more customers globally and supply them goods directly while reducing the product cost at the end users' end."

FIEO said it expects retail exports to be encouraged in order to compete with countries like China.